Biden’s Mortgage Market Bad Wine Hangover! Mortgage Purchase Demand Down -42.4% Since 04/16/21 (Mortgage Demand Down -5.7% Since Last Week, Mortgage Purchase Demand Down -26% YoY, Mortgage Refi Demand Down -43% YoY)

by confoundedinterest17

Biden’s economy and mortgage market are like a bad wine hangover. Thanks to inflation and The Fed’s tightening to fight inflation, mortgage purchase demand is down a staggering -42.4% since April 2021.

Mortgage applications decreased 5.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 12, 2023.

We are primarily funded by readers. Please subscribe and donate to support us!

The Market Composite Index, a measure of mortgage loan application volume, decreased 5.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6 percent compared with the previous week. The Refinance Index decreased 8 percent from the previous week and was 43 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 4.8 percent from one week earlier. The unadjusted Purchase Index decreased 5 percent compared with the previous week and was 26 percent lower than the same week one year ago.

Bottle of wine, fruit of Biden’s and Yellen’s BAD economic policies.

Views:

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.